CONTRACT SHIFTING CONCESSION FROM COMSAR TO RiTE UGLJEVIK SIGNED

BANJA LUKA, JANUARY 31 /SRNA/ – A contract shifting the concession rights for coal exploitation at the East Two deposit from the Comsar Energy company to the Mine and Thermal Power Plant /RiTE/ "Ugljevik" was signed today in Ugljevik.

The contract was signed by the Minister of Energy and Mining of Republika Srpska, Petar Đokić, on behalf of the Srpska Government, the representative of the "Comsar Energy Republika Srpska company" Aleksandar Lozo, and the director of RiTE "Ugljevik," Žarko Novaković.

Press statements are scheduled after the signing of contract in the RiTE building.

The Republika Srpska Government gave its consent for the contract to be signed for shifting the concession rights from the Comsar Energy company to RiTE "Ugljevik," thereby creating conditions to begin planning and exploiting coal at the East Two site.

This, as previously emphasized by RiTE "Ugljevik," is an important step toward creating conditions for long-term stable and uninterrupted operation of the mine.

The East Two concession field ensures the power plant’s operation for more than the next 20 years.